New Delhi: The Raghav Bahl led TV 18 group has formed a 75:25 global joint venture with Hong Kong-based private equity fund Saif Partners to float general entertainment and info-commercials'' television channels. The scope of the joint venture is not limited to India.

In the first phase operations will start in India with Delhi as the base, future expansions would be lined up for markets in the Middle East, UK and USA, in partnership with local companies.

The Cyprus-based joint venture would be called TV 18 HSN Cyprus, set up with 75 per cent equity from Network 18 Holdings.

The remaining equity shares would be held by Asian private equity firm Saif Partners whose strategic investors include US-based IT major Cisco and Japan''s media and telecom giant Softbank Corporation.

The joint venture is expected to enter into strategic tie-ups with local players in the overseas markets. The long-term strategy is to establish a global network of channels with a presence in every major country.

The venture would be getting into general entertainment and info-commercial genre of television channels. It would straddle the areas of lifestyle programs, music, travel and tour options, cultural programs and other events such as concerts, docu-dramas, etc.

HSN India would be providing information regarding various product categories such as health and fitness, education, home and kitchen, consumer electronics, gifting etc through the channel which is likely to be named Home Shop 18.